1120 N Lee Hwy | Lexington, VA 24450
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- LoopNet Team
1120 N Lee Hwy
Lexington, VA 24450
Ruby Tuesday · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- The property features an Abs NNN lease with zero landlord responsibilities, offering true passive ownership and ease of ownership.
- Built-in annual escalations enhance yield and protect against inflation for the long term.
- Low-maintenance, income-generating asset ideal for 1031 investors seeking a turnkey replacement property.
- The lease is corporately guaranteed by Ruby Tuesday, Inc., providing prospective investors with a secure backing behind the lease.
- Located in a well-trafficked area with proximity to I-81, Washington and Lee University, and Virginia Military Institute.
- In February 2026, there will be a 38.6% rental increase, taking an investor’s return to 11.48% if purchased at list price.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,662 SF
Building Class
C
Year Built
2002
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.21 AC
Zoning
B1 - Business District
Parking
90 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
241’ on N Lee Highway
AMENITIES
- Freeway Visibility
- Restaurant
PROPERTY TAXES
| Parcel Number | 61A2-3-A | Improvements Assessment | $868,900 |
| Land Assessment | $632,500 | Total Assessment | $1,501,400 |
PROPERTY TAXES
Parcel Number
61A2-3-A
Land Assessment
$632,500
Improvements Assessment
$868,900
Total Assessment
$1,501,400
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